'Israel' no longer attractive for investors: Central Bank Governor
3 Min Read
Israeli media reports that the founder of the most successful investment fund in "Israel" shared the Central Bank chief's view.
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Protestors in Melbourne, Australia, hold a banner promoting the boycott of the Israeli occupation over its war on Gaza at rally on October 10, 2023. (AFP)
Israeli media reported on Saturday that "Israel" is no longer "attractive" to world investors, citing the growing tension with the United States and the global boycott campaign among other factors as a result of the ongoing genocide in Gaza, which has seen the killing of nearly 34,000 Palestinians so far.
On that note, the report described Israeli Prime Minister Benjamin Netanyahu as "idiotic," and that the worst of all is "the humiliating treatment is also coming from the United States."
Yehuda Sharoni, the economic affairs correspondent for Israeli website Walla! highlighted the continued blows "Israel's" economy is receiving.
Read more: Why 'Israel' cannot afford to fund its genocide: The Economist
He mentioned Ankara's recent decision on export restrictions to "Israel". Turkey restricted the exports of 54 products to "Israel," including vital materials like cement and steel, raising alarms within the already-struggling Israeli construction sector and sparking broader concerns about bilateral relations.
Furthermore, Sharoni cited a recent interview with the Governor of the Central Bank of "Israel", Amir Yaron, where the governor admitted that "Israel is no longer attractive to investors worldwide." Sharoni also noted that Ishay Davidi, the founder of the most successful investment fund in "Israel," FIMI Opportunity Funds, made similar remarks.
US opening investigation into Israeli company
Norway’s largest pension fund KLP - holding around US$95 billion in assets - has also recently divested from 16 Israeli companies due to their ties to settlements in the occupied West Bank. Additionally, Ireland's 15-billion-euro state investment fund announced that it will divest from six Israeli companies, including some of it the entity's largest banks, also citing their activities in the West Bank.
Read more: Israeli startups grapple with war, failure as economy plunges: WSJ
Sharoni considered that what exacerbated the situation is that the US has opened an investigation against the Israeli company Finkelstein Metals, which exclusively produces a component for the Israeli Iron Dome anti-air-system, due to illegal competition with American factories, despite prior agreements between the two that govern the production of Israeli weapons.
The Israeli economy is suffering greatly as a result of the war's repercussions on Gaza, including a rise in the unemployment rate to unprecedented levels, with hundreds of thousands of workers being laid off or called up as reservists.
Requests for unemployment benefits have also increased. Additionally, the unexpectedly high cost of military operations has forced the occupation entity to borrow billions of dollars.
